Stay fit and reduce your insurance costs
Consumers that want to save money on the cost of their private medical insurance could see a big difference in their premiums if they make the effort to stay as fit and healthy as possible, according to a recent report. Compared to last year there has been a rise of around 1.5% in the number of UK consumers taking out private medical insurance, and it is thought that this is, in part, due to large discounts that are being offered to consumers by insurance companies in exchange for leading a healthier lifestyle, which will then decrease the risk of having to make a claim.
According to some reports a number of private medical insurance providers are offering huge discounts of up to 75% in some cases to customers that do not have any major health problems, do not smoke, drink only in moderation, and keep themselves fit and healthy. The reduced chances of a claim being made by healthy, fit policyholders makes it worthwhile for insurance companies to offer these huge discounts, state industry officials.
Consumers can also enjoy getting a no claims discount from some private medical insurance providers, and this can sometimes be transferred over if the consumer switches insurance provider. Insurance companies are also allowing policyholders to opt for higher excesses when taking out a policy, which helps to drive down the cost of premiums even further.
One industry official stated: : ‘We found many people were prepared to pay a much higher excess in return for lower monthly premiums. This is especially true of the elderly, who often have more savings in place than younger policyholders. It gives customers more options.’
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